Dan to buy Israeli desalination plant from IDE for 500 million shekels

Israel’s Dan Public Transportation has agreed to buy the Sorek desalination plant from IDE Technologies for about 500 million shekels ($138 million), the company said on Sunday.

Dan, one of the larger public transport operators in Israel, said it has been looking to branch out into new fields and this will be its second acquisition of a desalination plant. Its new facility can produce 150 million cubic meters of desalinated water a year.

IDE, a desalination specialist, is jointly and equally owned by ALFA Partners and Delek Group <DLEKG.TA>.

Dan said its purchase of the desalination plant in the area of Sorek in central Israel comes after IDE expressed interest in competing in a tender to build a second facility near the site.